The about-face comes after several quarters of disappointing results and challenges in its core businesses. Analysts say the company has been trying to do too many different things.
A week ago, CEO John Chambers acknowledged the criticism, sending employees a memo vowing to take "bold steps" to narrow the company's focus.
The San Jose, Calif., company said Tuesday that it expects its consumer business shakeup will result in the loss of 550 jobs and restructuring charges of no more than $300 million in the current quarter, which ends April 25, and the following one.
Cisco bought Pure Digital Technologies Inc., the maker of the Flip camcorder, for $590 million in 2009, just two years after the San Francisco-based company made its first camera. It quickly became a top seller because of its ease of use. A signature feature, since copied by many other manufacturers, was a USB connector that flipped out of the case, letting the user connect the camera directly to a computer. The camera even contained video-editing software that fired up on the computer.
Details at npr.org
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